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2021 (2) TMI 1221 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - mutually acceptable settlement terms or not - existence of debt and dispute or not - HELD THAT:- There is no legal impediment for the CoC to entertain the settlement terms if they are mutually acceptable to both the parties, i. e., the appellant and respondent No. 1. If the IRP is approached by the appellant and respondent No. 1 by filing the settlement terms in proper format, he will place the same before the CoC for consideration. This may be done within two weeks. This appeal does not survive for further consideration - appeal is disposed with liberty to the appellant to come back if the settlement is not allowed by the committee of creditors.
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